As a sport, NASCAR does not solely depend on racing but has a business side to it also. Apart from all the accolades achieved by the drivers' performances and wins, huge sponsorship deals along with the sales of merchandise play a crucial part for NASCAR teams.
The crew members along with the drivers work together to enhance their on-track performance which helps them keep up substantial backing, and sustain their financial success. Looking at the past few years in the sport, some teams have dominated by being rich.
List of the five richest NASCAR teams
23XI Racing
It is co-owned by Basketball legend Michael Jordan and Denny Hamlin, who is a three-time Daytona 500 winner. The team made its debut in the iconic Daytona 500 race. The team has an evaluation of $150 million.
Some of the companies that sponsor 23XI Racing are Mobil 1, McDonald's and Monster Energy. Bubba Wallace and Tyler Reddick are the two drivers for the team. 23XI Racing has seven victories and even clinched the 2024 regular season championship with the help of Tyler Reddick.
Team Penske
An auto racing organization named Team Penske sees it involved not just in NASCAR but in various disciplines like IndyCar, IMSA, and FIA. The debut of Roger Penske-owned Cup Series team was back in 1972 and the estimated worth of the company is $152 million.
They are two-time defending champions of the Cup Series and include big names as their sponsors like Shell Pennzoil, Menards, Auto Traders.com and Verizon. Austin Cindric, Ryan Blaney and Joey Logano drive for Team Penske.
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Richard Childress Racing
The team was founded by former NASCAR driver Ricard Childress back in the year 1969. It currently competes in the Cup and Xfinity Series. They have an estimated worth of $158 million.
Dale Earnhardt won six Cup Series championships with the team, they have some serious sponsors like Bass Pro Shops, Morgan & Morgan, Cheddar's Kitchen and Lenovo. Austin Dillon and Kyle Busch are the drivers for the team.
Joe Gibbs Racing
Former coach in the National Football League (NFL) Joe Gibbs founded the team back in 1992. Joe Gibbs Racing takes part in the NASCAR Cup and Xfinity Series. Their estimated worth is $230 million.
The team has four full-time entries in NASCAR's premier division and five Cup Series championships. The sponsors for Joe Gibbs Racing include major names like Monster Energy, Interstate Batteries, FedEx, and Bass Pro Shops. Denny Hamlin, Martin Truex Jr., Christopher Bell and Ty Gibbs drive for the team.
Hendrick Motorsports
Hendrick Motorsports is considered the richest NASCAR team and it is owned by Rick Hendricks. The team was founded back in 1984 and races in the NASCAR Cup and Xfinity Series. The estimated worth of the team is $315 million.
Hendrick Motorsports have more than 300 Cup wins and 12 Cup Series championships to their name. Brands like Hendrick cars.com, Ally Financials, Valvoline and NAPA Auto Parts. Meanwhile, Kyle Larson, Chase Elliot, William Byron and Alex Bowman drive for the team.
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